STORY FROM: Reinsurance & Arbitration

Reinsurer’s Motion to Intervene in $3.2 Million Odyssey Re Action Denied

SAN DIEGO — A California federal judge has denied a reinsurer’s motion to intervene in a lawsuit in which Odyssey Reinsurance Co. seeks payment of a judgment from the former owners of Cal-Regent Services Corp., ruling that the movant lacks a significant protectable interest in the case.

In a March 7 order, Judge Barry T. Moskowitz of the U.S. District Court for the Southern District of California further ruled that Knight Insurance’s motion to intervene was untimely and if allowed, would prejudice the defendants.

This action arises out of a $3.2 million judgment entered by the U.S. for the District ...

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